In May, the production of Estonian industrial enterprises decreased by 1%

According to Statistics Estonia, in May 2012, the production of industrial enterprises decreased by 1% compared to the same month of the previous year. In the manufacturing the decrease was 0.4%.

A small
growth which took place at the beginning of 2012 in manufacturing was replaced
with a decline in March and April, when the production of manufacturing
decreased nearly 5% in both months compared to the same month of the previous
year. In May the decrease was 0.4% compared to May of the previous year. The
main reason for the decline was the high comparison basis in the manufacturing
of electronic products – this effect will last during the 2nd quarter as well.
The reduction of demand on the external market also influenced the
manufacturing negatively – the export sales decreased 2% compared to May of the
previous year. The share of export sales accounted for 70% of the total
production of manufacturing in May.

In May,
the production did not exceed the volume of the same month of the previous year
in half branches of industry. Among the branches of industry holding larger
shares, the production in the manufacture of metal products, electronic and
chemical products fell by 19%, 4% and 2%, respectively. The production in the
manufacture of electrical equipment, wood and food products grew by 18%, 2% and
1%, respectively.

The volume index and trend of production in manufacturing, January 2003 – May 2012 (2005 = 100)

In May
2012 compared to April 2012, the seasonally adjusted total industrial
production as well as the production in manufacturing increased by 1%.

Compared
to May 2011, the production of electricity decreased by 7% and the production
of heat by 8%.

Change in volume index of industrial production, May 2012 (percentages)

Economic activity

Change compared
to the previous month
according to seasonally
adjusted dataa

Change compared to
the corresponding
month of the previous year

according to unadjusted data

according to working-day adjusted datab

TOTAL

1.1

-0.8

-0.8

Energy production

-1.3

-7.1

-7.1

Mining

-2.0

2.3

2.3

Manufacturing

1.4

-0.4

-0.4

manufacture of computer, electronic and optical products

3.4

-4.3

-4.3

manufacture of wood and wood products

3.6

2.2

2.2

manufacture of food products

-0.4

0.8

0.8

manufacture of fabricated metal products

-3.8

-19.2

-19.2

manufacture of electrical equipment

0.9

17.8

17.8

manufacture of chemicals and chemical products

-0.4

-2.4

-2.4

manufacture of furniture

4.8

3.8

3.8

manufacture of motor vehicles

-2.3

-5.2

-5.2

manufacture of building materials

-2.0

-4.1

-4.1

manufacture of machinery and equipment

-4.4

-1.5

-1.5

aIn case of the
seasonally adjusted volume index of industrial production, the impact of the
differing number of working days in a month and seasonally recurring factors
have been eliminated. It is calculated only in comparison with the previous
period.

bIn case of the
working-day adjusted volume index of industrial production, the impact of the
differing number of working days in a month has been eliminated. It is
calculated only in comparison with the corresponding period of the previous
year.

Circular economy for modern growth: EU and the Baltics EU’s circular economy plans are aimed at efficient use of natural resources and raw materials, waste disposal, while fostering energy savings and reducing CO2. Adequate actions in the Baltic States would contribute to “closing the loop” of product lifecycles through greater recycling and re-use, while bringing benefits to environment, business and economic growth.